With Bitcoin prices back up high, people are again variously hyping or disparaging cryptocurrency. I don’t often see moderate takes on the technology, probably because it’s extremism that gets attention, but I thought I’d share my take.

Should Bitcoin Be Valuable?

I agree with the many skeptics that Bitcoin cannot be a currency. The value has always fluctuated greatly and had long periods both inflation and deflation. Denominating prices or contracts in Bitcoin injects a lot of risk into a transaction due to this volatity. For now, this is a non-starter.

But, Bitcoin can replace gold as an asset. Yes…

P. Oscar Boykin

Machine learning, Programming, Hadoop, Scala.

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